Europe

This Week on Gold

Gold dipped to 1108.2 but support came in from the near term rising trend-line and it recovered nicely. With the 4 hours MACD crossed above signal line, the retreat from the 1145.8 level may now be complete.
Bias has flipped back to the Northside for retesting 1145.8 now. A break thru that level will bring [...]

Ford (NYSE:F) Sells Volvo to Geely (HK:0175)

China’s Geely Automobile (0175.HK) has secured financing to buy the Ford owned Volvo for 15 billion Swedish crowns ($2.10 billion USD), a Swedish business daily reported on Wednesday.
Dagens Industri, citing sources, said that Chinese financial institutions and regional government bodies had provided the money for Geely to complete its purchase.
The paper quoted its source as [...]

Oil on Way to $100

Oil moved toward $82 per barrel but without strong momentum as investors waited to see if data on U.S. stocks later on today would provide impetus for further gains
U.S. crude for April delivery was up 29 cents at $81.78 by 1251 GMT. London ICE Brent for April gained 37 cents to $80.28.
The Organization of Petroleum [...]

L’Occitane to list in Hong Kong

L’Occitane, Upmarket French cosmetics group, is getting ready for a landmark initial public offering in Hong Kong next month in a move that highlights rising consumer demand in Asia for luxury goods.
The company, whose natural Skincare products sell in 85 countries, could raise up to US$700B to bankroll its Asian expansion plans, people familiar with [...]

Noways Oil Fund Prospers

Commonly known as the oil fund, Norway’s sovereign wealth fund, Europe’s biggest equity investor, swung to its best ever return in 2009, generating more than $100 billion in gains to almost erase its worst ever return posted 12 months earlier.
The Fund gained 613 billion crowns ($103 billion) last year, the central bank said on Friday, [...]

EADS Saves A400M

Customer Nations and EADS have come to a principle agreement regarding the A400M military transport aircraft with the intention to amend the original contract accordingly in the coming weeks. In this principle agreement, the Customer Nations agree to
Increase the price of the contract by €2 billion;
Waive all liquidated damages related to current delays;
Provide an [...]

Europe Bounces back

European stock markets closed sharply higher on Friday, with London boasting its best finish in 18 months as much better-than-expected US jobs data helped allay concerns about the economic outlook, dealers said.
They said strains over Greece’s massive deficit and debt problems also appeared to ease after Athens successfully sold bonds to raise 5 billion [...]

New Greek Austerity Measures Solid

The EU Commission said Thursday that the new austerity measures put forward by Greece Wednesday were a “solid” package that would help the country meet its targets on deficit cutting.
“With the package presented yesterday, Greece is in a position which will enable it to meet ambitious deficit targets, especially in Y 2010, as is the [...]

European Exchanges Retreat

World stocks slipped on Thursday while the euro held above a recent 9-month low against the dollar as the European Central Bank prepared to announce next steps in stimulus withdrawal after its policy meeting.
Stock index futures point to a lower open on Wall Street on Thursday, with weekly jobless data due before the market opens, [...]

Lord Mandelson Says No to Volcker Rule

US President Barack Obama’s plan to limit deposit-taking banks from proprietary trading is “far too difficult” to implement, Lord Mandelson said Wednesday, as he called on the US president to refocus on G-20 financial reforms.
The UK business secretary’s strong public criticism of the Obama proposals reflects widespread frustrations among ministers at a “sweeping” overhaul [...]